Flexa, the New York based Crypto payment processor that raised $14.1m in startup funding last year to fullfil its mission and ‘catapult retail blockchain adoption’ has launched Litecoin support on its SPEDN Point of Sale (POS) payments app.
“Flexa is delighted to announce Litecoin (LTC) as the fifth digital asset to be accepted by merchants on the Flexa network, and the first coin added to the network since it launched in the US just just seven weeks ago.”
Despite being added after the initial launch, the news had been somewhat leaked prior to the teases shared on twitter as the company’s white-paper clearly listed Litecoin as one of the four crypto currencies it would support alongside Bitcoin, Ethereum and BitcoinCash. Although there is no reason given for the delay it wouldn’t be too far fetched to assume it was pushed back to capitalise on the excitement and hype surrounding the upcoming Litecoin Halving event. Flexa did however share their reasoning for including Litecoin and why they see it as a perfect match for their network:
“As one of the first (and highest volume) cryptocurrencies, Litecoin distinguishes itself with low transaction fees, fast confirmation times, and an active community of avid supporters and payments enthusiasts. As the first instant cryptocurrency payments network, Flexa offers direct point-of-sale payments at more than 39,250 stores (and counting) across the United States. With their efforts combined, Flexa and Litecoin are delivering on cryptocurrency’s promise of secure, fast, and fraud-resistant payments that improve the status quo for merchants and consumers alike.”
Speaking at the Asia Blockchain Summit in Taipei, Litecoin Creator & Foundation Executive Director, Charlie Lee shared his thoughts on the announcement:
“I’m excited to see Flexa help push mainstream adoption of Litecoin payments,”
“Being able to pay with LTC at all these new major merchants is great for the entire Litecoin community.”
Since the initial launch of SPEDN the Litecoin Community had been pushing publicly for support and it appears the Litecoin Foundation listened, as the two have partnered in order to reach a common goal of taking crypto payments mainstream and simple.
“Adding Litecoin brings Flexa one step forward in its mission to make any cryptocurrency spendable at any store, in any country around the world. That’s why we’re so proud to partner with the Litecoin Foundation on bringing cryptocurrency payments into the mainstream, starting with inviting thousands more people to use Flexa’s SPEDN app”
SPEDN is currently only available within the US on IOS devices for those looking to test the platform however an Android beta is planned later this year.